Bids invited for divestment of BEML Limited

BEML Limited ("BEML") or (the "Company") is a Miniratna Category-1 Public Sector Undertaking, under the administrative control of Ministry of Defence (MoD). The Company was incorporated on 11th May 1964. The Company operates under 3 major business verticals - viz. Mining & Construction, Defence, and Rail & Metro. GOI proposes to disinvest its equity shareholding of 26% in BEML out of its shareholding of 54.03% by way of strategic disinvestment to investor(s) along with transfer of management control. GOI has appointed SBI Capital Markets Limited (SBICAP) as its Transaction Advisor to advise and manage the strategic disinvestment process.

This disinvestment process is to be implemented through open competitive bidding route. A Preliminary Information Memorandum (PIM) for the process of Strategic Disinvestment can be downloaded from websites of Department of Investment and Public Asset Management (DIPAM) at www.dipam.gov.in, MoD at www.mod.gov.in, company at www.bemlindia.in and Transaction Advisor at www.sbicaps.com. For any future information / amendments / corrigenda, kindly refer to above websites only or contact the Transaction Advisor.

Interested Bidders (IBs) who meet the eligibility criteria mentioned in the PIM, may submit their EOI in either physical form or electronic form via e-mail at the address mentioned below, on or before 5:00 PM (Indian Standard Time) of 1st March, 2021. However, IBs submitting EOI by e-mail shall also be required to submit the EOI in a physical copy in a sealed, covering envelope clearly marked "Private and Confidential - Expression of Interest for the Strategic Disinvestment of BEML" at the below mentioned address, not later than 5:00 PM (Indian Standard Time) of 16th March, 2021.

Address for submission of EOI:

Ms Apeksha Munwanee,
Vice President, Investment Banking
SBI Capital Markets Ltd,
202, Maker Tower 'E',
Cuffe Parade, Mumbai - 400 005,
Maharashtra, India

E-mail for electronic submission of EOI: project.beml@sbicaps.com

Shares of BEML LTD. was last trading in BSE at Rs.971.55 as compared to the previous close of Rs. 968.1. The total number of shares traded during the day was 13953 in over 715 trades.

The stock hit an intraday high of Rs. 982.45 and intraday low of 968.1. The net turnover during the day was Rs. 13609077.

Source : Equity Bulls

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